SNC Lavalin completed the transfer of a sixth public-private partnership (P3) asset, InPower BC General Partnership, into its infrastructure investment vehicle for total cash consideration of approximately $41 million.
The asset in question is the entity contracted to provide and provide services to BC Hydrorecently replaced the John Hart Generating Station (underground plant shown) on Vancouver Island, Canada’s first P3 project in the hydroelectric industry. Specifically, InPower was transferred to SNC-Lavalin Infrastructure Partners LP.
“The transfer is another excellent example of the success of the partnership, as it creates significant value for SNC-Lavalin and allows us to continue to effectively redeploy capital towards new development opportunities,” said Stéphanie Vaillancourt, President of Capital and business operations. and Maintenance (O&M), which will continue to provide asset management services to the hydropower plant for the next 11 years.
SNC-Lavalin holds a 20% interest in the partnership, which was first announced and launched on June 30, 2017. The initial closing of the first four assets was completed on September 27, 2017 and the fifth was transferred on June 28, 2017. June 2017. 2018.